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Kronos Worldwide Rises After Reporting Preliminary Sales

Oct. 2 (Bloomberg) -- Kronos Worldwide Inc., a producer of titanium dioxide pigments for paints and plastics, gained after reporting preliminary sales.

Kronos, based in Dallas, increased 2.6 percent to $15.16 at the close in New York. The shares have fallen 16 percent this year.

Third-quarter net sales will be $480 million to $495 million, compared with $548 million last year, because of lower sales volumes, the company said in a statement today. Segment profits will be $35 million to $45 million, compared with $159.2 million a year earlier, Kronos said.

The titanium dioxide industry has seen sales and production volumes decline because of global economic weakness, Kronos said. The company received 58 percent of its revenue from Europe in 2011.

To contact the reporter on this story: Lydia Mulvany in New York at lmulvany1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

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